What does VA Loan Calculator do?
VA loan calculator with the current VA funding fee by first or later use and down payment, the disability exemption and your monthly payment. No PMI.
- Price
- Free
- Account
- Not required
- Processing
- Entirely in your browser; your data and files are not uploaded
- Works on
- Any modern browser on desktop, tablet or phone
- Region
- United States (USD)
- Category
- Financial Calculators
How to use the va loan calculator
- Enter the purchase price and any down payment. VA loans do not require one if the price is not above the appraised value.
- Choose first use or after first use, and switch on the exemption if it applies to you (for example, you receive VA disability compensation).
- Choose whether to finance the funding fee or pay it at closing.
- Enter the rate and term from your lender, and your estimates for tax, insurance and HOA.
- Read the funding fee, the total loan amount and the monthly payment.
Worked example
$400,000 home, no down payment, first use, 6% for 30 years
With less than 5% down on first use the funding fee is 2.15%: $8,600. Financed, the loan becomes $408,600 with principal and interest of $2,449.76. Adding $4,800 a year property tax and $1,800 insurance gives an estimated $2,999.76 a month, with no mortgage insurance. After first use the fee would be 3.3% ($13,200), and a borrower exempt from the fee would borrow $400,000.
How it works
Base loan = price − down payment. Down payment % = down payment ÷ price. The funding fee rate comes from the va.gov table for purchase and construction loans: below 5% down, 2.15% for first use or 3.3% after first use; 5% or more, 1.5%; 10% or more, 1.25%. Fee = rate × base loan (0 if exempt). When financed, the loan = base loan + fee. Principal and interest use M = P × r / (1 − (1 + r)−n).
Assumptions
- Funding fee rates from VA funding fee and loan closing costs (rates effective 7 April 2023), checked on 6 October 2026.
- Exemption status is your own selection. VA lists who is exempt, including veterans receiving compensation for a service-connected disability and surviving spouses receiving Dependency and Indemnity Compensation.
- VA purchase loans do not require PMI or mortgage insurance premiums (va.gov).
- Property tax, insurance and HOA are your own estimates.
Frequently asked questions
How much is the VA funding fee?
For purchase loans: 2.15% of the loan amount on first use with less than 5% down (3.3% after first use), 1.5% with 5% or more down and 1.25% with 10% or more down, per va.gov.
Who is exempt from the VA funding fee?
According to VA, you do not pay it if you receive VA compensation for a service-connected disability (or are eligible but receive retirement or active-duty pay instead), receive Dependency and Indemnity Compensation as a surviving spouse, have a proposed or memorandum rating before closing, or are on active duty and provide evidence of a Purple Heart on or before closing.
Can I roll the funding fee into the loan?
Yes. VA lets you finance the fee and pay it over time, or pay it in full at closing. Financing it means paying interest on the fee.
Do VA loans have PMI?
No. VA-backed purchase loans do not require private mortgage insurance or mortgage insurance premiums. The funding fee is the one-time cost instead.
Limitations
- Covers purchase loans only. Cash-out refinance and IRRRL fees differ.
- Does not check VA entitlement, residual income or lender overlays.
- Estimates only. Confirm the fee and payment on your Loan Estimate.